Hatred and Jealousy, page-79

Busy Bean, check out 2017 audited financial report. Shocking (in hindsight).

Current liab for “deferred revenue” of $9m, note 14 just restates exact same thing (lol). I was unable to find any link disclosed between this liability and FC capital (may have missed it, not necessarily asserting it’s not there - but I’m an accountant and I couldn’t find one ).

Given the scattered information that’s publicly available, I would speculate (though not assert) that the actual substance behind this $9m was actually a secured loan to FC. I think this is a reasonable guess given the amount of debt accrued to date.

The difference in the underlying financial position between accrued rev and secured loan could not be further apart from a risk point of view.

I am not asserting to understand the above, just thinking out loud where this ton of debt has come from, which I (as an accountant) cannot personally ascertain from the 2017 fins.